<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THE SIX MONTHS ENDED JUNE 30, 1999 INCLUDED IN ITS FORM 10-Q FOR THE QUARTERLY PERIOD THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> JUN-30-1999 <CASH> 81,163 <SECURITIES> 0 <RECEIVABLES> 85,346 <ALLOWANCES> 0 <INVENTORY> 104,008 <CURRENT-ASSETS> 297,496 <PP&E> 1,881,435 <DEPRECIATION> 908,782 <TOTAL-ASSETS> 1,275,488 <CURRENT-LIABILITIES> 78,470 <BONDS> 349,043 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 11,117 <OTHER-SE> 706,425 <TOTAL-LIABILITY-AND-EQUITY> 1,275,488 <SALES> 45,327 <TOTAL-REVENUES> 219,222 <CGS> 35,430 <TOTAL-COSTS> 235,942 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 5,750 <INCOME-PRETAX> (18,716) <INCOME-TAX> (6,092) <INCOME-CONTINUING> (12,624) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,624) <EPS-BASIC> (0.15) <EPS-DILUTED> (0.15)